Florence, NJ · Member since 2017 · 12 posts · 1 vote
So I have my first deal under contract and it's a tri-plex. After the inspection, it is brought to my attention that the one of the furnaces, one of the water boilers, and a condenser unit for the AC are all really old and past their prime. They are all in working condition currently. I plan on saving 5-7% of the monthly rent for capital expenditures. But I just want to be more prepared. When do u replace these items? Do u wait until they crap out to buy a new one? Do u buy a new one while the old one is still working? Won't it cost way more if u wait until it totally craps out? I'd appreciate any feedback or advice. Thx.
Investor · Monroe, WI · Member since 2015 · 691 posts · 610 votes
9y
If the furnace is old, I bring in my HVAC guy and he can give me the rundown on how much longer to expect out of it and he will service it for me. Water heaters, I have flushed and if they aren't starting to rust, same thing I keep them but I place a water alarm by it just in case.
Take steps to mitigate risk but if it helps you sleep at night, replace them or one of them and save rent for the others.